A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
April 16 to April 22 Coverage:
Rating agency Moody upgraded Egypt’s sovereign rating as well as the long-term foreign and local currency issuer ratings from B3 to B2, expecting to achieve further growth, Reuters reported.
EGX fell collectively on April 21 in its early trading. The EGX30 decreased by 0.03%, while the EGX100 decreased by 0.04%, according to Arab Finance.
Egyptian fiscal policy aims to boost economic growth rates to 6% in the upcoming fiscal year, according to Egypt Independent.
The World Bank announced a $200 million project that supports upcoming reforms in Egypt and create more opportunities for youth and women, Amwal Al Ghad reported.
The EGP continues its 11-week rally against the USD as it grew an additional EGP 0.11 in the past week, reaching EGP 17.25 to $1, according to the CBE.